Read the following case carefully and answer the given questions. You have recently become Head of Finance at Oman Catering Company Muscat, a company which deals in the specialized area of food and dining. Its expertise lies in the industrial catering and related services, mainly for Government institutions, Commercial Establishments and hotels. Your previous employer was Renaissance Catering Company Sohar, where, as finance manager, you had the opportunity to work on areas relating to financial accounting, procurement, contracts, and bids. One of Oman Catering Company’s major contracts is with Renaissance Catering Company. The contract is now up for renewal, and Oman Catering Company is preparing a competitive bid for this contract. You have been asked to lead the team responsible for bidding for this contract. You also suspect that your knowledge and experience of Renaissance Catering Company were good reasons for appointing you to the position at Oman Catering Company. You do not want to let your new employer down. The loss of such a major contract would have a significant effect on the financial performance of Oman Catering Company and its performance-related bonus scheme for management. a) Identify the professional code of ethics related this case and explain how it is related? b) Specify the threat associated with this case. Justify it. c) How do you manage the situation?
Read the following case carefully and answer the given questions.
You have recently become Head of Finance at Oman Catering Company Muscat, a
company which deals in the specialized area of food and dining. Its expertise lies in the
industrial catering and related services, mainly for Government institutions, Commercial
Establishments and hotels. Your previous employer was Renaissance Catering Company
Sohar, where, as finance manager, you had the opportunity to work on areas relating to
financial accounting, procurement, contracts, and bids.
One of Oman Catering Company’s major contracts is with Renaissance Catering
Company. The contract is now up for renewal, and Oman Catering Company is
preparing a competitive bid for this contract. You have been asked to lead the team
responsible for bidding for this contract. You also suspect that your knowledge and
experience of Renaissance Catering Company were good reasons for appointing you to
the position at Oman Catering Company. You do not want to let your new employer
down. The loss of such a major contract would have a significant effect on the financial
performance of Oman Catering Company and its performance-related bonus scheme for
management.
a) Identify the professional code of ethics related this case and explain how it is related?
b) Specify the threat associated with this case. Justify it.
c) How do you manage the situation?
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
